Euro STOXX Index Up 0.1%; Euro Zone Blue Chips Up 0.06%
15·CLong
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news9/7news
Euro STOXX Index Up 0.17%; Euro Zone Blue Chips Up 0.09%
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meme9/6meme
quote: Altiero Spinelli – The Man Who Designed the EU in Prison.
Not a metaphor. Literally. The blueprint for the European Union — its founding logic, its institutional architecture, its explicit goal of dissolving national sovereignty permanently — was written in 1941, on a tiny island off the coast of Naples, where Mussolini had imprisoned him.
The Ventotene Manifesto. Still cited. Still operative. Still running.
1. Spinelli had been a communist since seventeen – and was eventually expelled from the Communist Party for left-wing deviation. Too radical for the communists. Which tells you something about the man. In his prison years he reached the conclusion that the nation-state was the root cause of war, fascism, and every political catastrophe of the century. It had to go. Not reformed. Not constrained. Abolished – permanently, irreversibly, through the construction of a supranational federal authority with supreme power over member states.
2. The Ventotene Manifesto was written in 1941 on paper smuggled into the prison in cigarette packets. Its argument was simple and total: nation-states must be replaced by a federal European government. The economic integration would come first – because economic interdependence would make political separation prohibitively costly. Then the institutions. Then the law. Then the currency. Each step irreversible by design. The nation-state dissolved not by force but by process – incrementally, bureaucratically, until the point of no return had been passed without anyone noticing when.
3. This is the architecture of the European Union. Not a conspiracy theory – the founding document. Spinelli served as a member of the European Parliament and drafted the 1984 Spinelli Report – the direct precursor to the Maastricht Treaty. Today the European Parliament sits in the Spinelli Building in Brussels. The Spinelli Group inside it advances his program explicitly, in his name, without apology. The man who wrote the blueprint in a prison cell in 1941 is the acknowledged intellectual father of the institution that governs 450 million people. This is not hidden. It is simply not taught.
4. The mechanism was specifically intended to be irreversible. Each treaty expands competence and makes contraction impossible. The Commission is unelected and insulated from democratic pressure to reverse course. Spinelli understood, from his Marxist formation, that the correct way to make a revolutionary change permanent is to make the cost of reversing it higher than the cost of accepting it. Brexit took fifty years of membership to become possible – and was still nearly impossible to execute.
5. Poland is the most precise illustration. A nation that disappeared from the map for a century and fought back through language, family, and refusal to be absorbed – now a member of an institution designed to make national sovereignty obsolete. The Brussels directive that overrides the Polish parliament is Spinelli’s program, running as designed. The Poland that survived partition by Prussia, Russia, and Austria is now navigating a project designed to produce the same outcome through consent rather than conquest. Spinelli would have considered this progress.
6. He died in 1986, before Maastricht, before the euro, before the completed project. Like Gramsci, he did not need to see it. The manifesto written on cigarette-packet paper on a prison island became the founding document of the most powerful supranational institution in history – one that 450 million people live inside without knowing who designed it, when, where, or why.
7. Now you know. The question worth asking is not whether the EU is good or bad. It is whether you would have consented to Spinelli’s program if asked directly – whether you wanted the nation-state abolished permanently by incremental bureaucratic process, designed from the start to be irreversible. Nobody was asked. That too was part of the design. | Antonio Gramsci – The Most Dangerous Intellectual of the Twentieth Century.
Not the most famous. Not the most read. The most dangerous and the most consequential – because he was the one who figured out why the revolution kept failing, and what to do instead. The man who invented the long march through the institutions.
Everything that followed — the Frankfurt School, the Fabian Society’s operational model, the WEF formation pipeline, the captured university, the HR department enforcing approved speech — is downstream of what he wrote in a prison cell in Mussolini’s Italy, in code, between 1929 and 1935.
1. His central question: why hasn’t it happened? The working class was supposed to rise. The contradictions of capitalism were supposed to produce the revolution. They hadn’t – not in the West. Gramsci’s answer was precise and devastating: because the ruling class does not maintain power through force alone. It maintains power through cultural hegemony – the control of the ideas, values, and frameworks through which people understand the world. The worker who accepts that the existing order is simply how things are will not revolt, regardless of his material conditions. The revolution requires cultural change first.
2. The instrument was the long march through the institutions. Not the barricade. The school, the university, the media, the judiciary, the civil service, the cultural establishment – every institution through which a civilization transmits its values to the next generation. Capture these, fill them with people who share the counter-hegemonic project, and the cultural assumptions that maintain the existing order gradually dissolve. No barricades. No visible moment of rupture. Just the slow replacement of one cultural hegemony with another.
3. The educational capture was the masterpiece. Control the curriculum and you control the categories of thought available to the next generation. Not by telling them what to conclude – by shaping what questions they think to ask, what they consider obvious and what they consider unthinkable. The generation educated after the long march does not need to be told what to think. It thinks what it was formed to think – and experiences that thinking as its own.
4. He also theorized the organic intellectual – the person who translates the theoretical framework into stories and assumptions that circulate through the culture without appearing ideological. The film that makes the existing order seem absurd. The journalist who frames every story within the approved assumptions. Gramsci understood that culture is politics by other means – and that the side that controls the culture wins, regardless of who wins the elections.
5. This is not a conspiracy theory. It is a published, documented, widely taught strategy that the left implemented consciously across the entire Western world. The 1968 generation put it into practice in the universities. They became the professors, the journalists, the civil servants, the judges, the HR directors of the decades that followed. The march took fifty years. It worked.
6. Mussolini’s prosecutor said at his trial: "We must stop this brain from functioning for twenty years." The brain did not stop. It produced thirty-three notebooks – smuggled out, published, and became the most widely read Marxist text in the Western academy after Marx himself. Gramsci died in 1937, six days after his release, at forty-six. He did not see the march he theorized. He did not need to.
7. Every captured institution, every transformed curriculum, every HR department enforcing approved speech, every content moderation policy suppressing the unauthorized voice – all running the program Antonio Gramsci designed in a prison cell, by a brain that was supposed to have been stopped. It wasn’t. And neither was the march.
Until now – because the distribution monopoly that made its outcomes enforceable is cracking. The counter-march has begun. It just doesn’t have a name yet.
0·-Neutral
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news9/6news
Altiero Spinelli – The Man Who Designed the EU in Prison.
Not a metaphor. Literally. The blueprint for the European Union — its founding logic, its institutional architecture, its explicit goal of dissolving national sovereignty permanently — was written in 1941, on a tiny island off the coast of Naples, where Mussolini had imprisoned him. The Ventotene Manifesto. Still cited. Still operative. Still running.
1. Spinelli had been a communist since seventeen – and was eventually expelled from the Communist Party for left-wing deviation. Too radical for the communists. Which tells you something about the man. In his prison years he reached the conclusion that the nation-state was the root cause of war, fascism, and every political catastrophe of the century. It had to go. Not reformed. Not constrained. Abolished – permanently, irreversibly, through the construction of a supranational federal authority with supreme power over member states.
2. The Ventotene Manifesto was written in 1941 on paper smuggled into the prison in cigarette packets. Its argument was simple and total: nation-states must be replaced by a federal European government. The economic integration would come first – because economic interdependence would make political separation prohibitively costly. Then the institutions. Then the law. Then the currency. Each step irreversible by design. The nation-state dissolved not by force but by process – incrementally, bureaucratically, until the point of no return had been passed without anyone noticing when.
3. This is the architecture of the European Union. Not a conspiracy theory – the founding document. Spinelli served as a member of the European Parliament and drafted the 1984 Spinelli Report – the direct precursor to the Maastricht Treaty. Today the European Parliament sits in the Spinelli Building in Brussels. The Spinelli Group inside it advances his program explicitly, in his name, without apology. The man who wrote the blueprint in a prison cell in 1941 is the acknowledged intellectual father of the institution that governs 450 million people. This is not hidden. It is simply not taught.
4. The mechanism was specifically intended to be irreversible. Each treaty expands competence and makes contraction impossible. The Commission is unelected and insulated from democratic pressure to reverse course. Spinelli understood, from his Marxist formation, that the correct way to make a revolutionary change permanent is to make the cost of reversing it higher than the cost of accepting it. Brexit took fifty years of membership to become possible – and was still nearly impossible to execute.
5. Poland is the most precise illustration. A nation that disappeared from the map for a century and fought back through language, family, and refusal to be absorbed – now a member of an institution designed to make national sovereignty obsolete. The Brussels directive that overrides the Polish parliament is Spinelli’s program, running as designed. The Poland that survived partition by Prussia, Russia, and Austria is now navigating a project designed to produce the same outcome through consent rather than conquest. Spinelli would have considered this progress.
6. He died in 1986, before Maastricht, before the euro, before the completed project. Like Gramsci, he did not need to see it. The manifesto written on cigarette-packet paper on a prison island became the founding document of the most powerful supranational institution in history – one that 450 million people live inside without knowing who designed it, when, where, or why.
7. Now you know. The question worth asking is not whether the EU is good or bad. It is whether you would have consented to Spinelli’s program if asked directly – whether you wanted the nation-state abolished permanently by incremental bureaucratic process, designed from the start to be irreversible. Nobody was asked. That too was part of the design.
25·CLong
n
news9/4news
Crypto News - 4 September 2026
Bitcoin pushed above $81,000 on September 4 after Federal Reserve Governor Christopher Waller said he would favor holding rates steady if inflation continued to cool, easing rate-hike fears and lifting crypto alongside equities. Thursday also brought a $730.8 million net inflow into U.S. spot Bitcoin ETFs, led by BlackRock’s IBIT. The Fear & Greed Index reached 74, or “Greed,” up from 65 a day earlier and 27 a month ago. Stronger-than-expected U.S. payrolls later revived some rate-hike risk and Bitcoin eased back below $80,000. The week ended with risk appetite improved, but still sensitive to Federal Reserve expectations.
Wall Street banks plan joint dollar stablecoin
A coalition of 21 financial institutions, including Goldman Sachs, Bank of America, Citi and Deutsche Bank, announced plans on September 1 to create a company this year and issue a U.S. dollar-pegged stablecoin in the first half of 2027. The group also intends to expand into other G7 currencies, with a euro token a priority. It will compete with Qivalis, a separate 37-member consortium preparing a euro stablecoin. Bank-issued stablecoins still have limited adoption compared with incumbents such as Tether. The plan nevertheless marks another significant move by major banks toward blockchain-based money and settlement.
Coinbase seeks approval for equity perps
Coinbase filed registration documents with the U.S. Securities and Exchange Commission on September 3 seeking approval to offer equity perpetual contracts. Perpetuals track an underlying asset without an expiry date, allowing positions to stay open without rolling into a new contract. Chief Policy Officer Faryar Shirzad said the product would require Commodity Futures Trading Commission approval next and described it as a potential regulated pathway for U.S. investors. Coinbase already received CFTC approval earlier this year to offer perpetual crypto futures. If approved, equity perps would broaden the exchange beyond digital assets and test how U.S. regulators handle crypto-style market structure.
Monday opened with $216.7 million in net inflows, led by BlackRock’s IBIT at $205.9 million, while Fidelity’s FBTC added $6.9 million. Tuesday reversed to $236.5 million in net outflows as IBIT shed $201.2 million and FBTC lost $43.7 million, partly offset by $8.4 million into Bitwise’s BITB. Wednesday returned to $101.1 million in net inflows, led by $115.4 million into IBIT despite $56.2 million leaving GBTC, before Thursday surged to a week-high $730.8 million as IBIT added $454.0 million, ARKB $137.7 million and FBTC $74.4 million. Overall, the week finished with $812.1 million in net inflows, with BlackRock driving most of the positive momentum.
Monday opened with $87.6 million in net inflows, led by BlackRock’s ETHA at $59.9 million, while Grayscale’s ETH added $13.5 million. Tuesday remained positive at $8.6 million as ETHB brought in $11.2 million and FETH added $4.8 million, offset by $7.4 million leaving ETHE. Wednesday was the weakest session at $48.2 million in net outflows, with ETHA losing $53.4 million, FETH $26.2 million and ETHE $23.5 million despite $52.9 million flowing into ETHB, before Thursday rebounded to $141.4 million led by ETHA at $72.1 million and FETH at $65.1 million. Overall, Ethereum ETFs finished the week with $189.4 million in net inflows.
Cardano led the Metal Pay list with a 4.9% seven-day gain, followed by Metal DAO at 3.0%, Litecoin at 2.8% and Bitcoin at 2.2%. Hedera, XRP, Ethereum and Stellar also remained positive for the week, even as most of the tracked assets were lower over the latest 24-hour period. The result shows that the late-week market rebound was enough to keep several major assets in positive territory despite a volatile start to September.
75·ALong
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news9/4news
Stellar Q2 Token Holder Report
Executive Summary
Q2 2026 brought the institutional adoption Stellar spent a decade building toward. On May 27, the Depository Trust & Clearing Corporation announced plans to connect the Depository Trust Company's tokenization service to Stellar, a venue that custodies and services more than $114 trillion in securities. Tokenized assets are expected to become available on Stellar in the first half of 2027. In the interim, DTCC and the Stellar Development Foundation will evaluate use cases across constituents of the Russell 1000, ETFs tracking major indices, and US Treasury bills, bonds, and notes.
What the numbers do reflect is asset growth. Tokenized real-world assets closed Q2 at $3.00 billion, up from $1.50 billion at the end of Q1, and the network passed three separate billion-dollar marks inside a single calendar year. Payment volume recovered to $16.43 billion, up 68.8% from Q1's $9.73 billion. Stablecoin balances grew 16.0% to $346 million.
Underneath the asset growth, the composition of network activity kept shifting. Stellar settles two kinds of activity on a single ledger: classic operations (the original payment, orderbook, and trustline primitives) and Soroban (the smart contract environment added in a February 2024 protocol upgrade). Both are validated by the same set of validators, so the split between them describes where activity settles rather than a choice users make. Soroban accounted for 41.3% of all Stellar transactions in Q2, up from 38.8% in Q1 and 25.3% three quarters earlier. Soroban transactions grew 14.3% quarter over quarter against 3.1% for classic transactions, and Soroban now carries 94.4% of network fees and 82.4% of onchain trading volume. Stellar is measurably deepening into a DeFi ecosystem alongside its payments business.
The upgrade cadence held. Protocol 26, "Yardstick," went live on mainnet on May 6 after an April 16 testnet launch, introducing CAP-77 Quorum Freeze, a protocol-native onchain account freeze mechanism that lets validators contain compromised ledger keys through federated consensus. Protocol 27, "Zipper," reached testnet on June 18 and activated on mainnet on July 8, shortly after the quarter closed.
Network fees fell 18.2% to $90,440 as the cost of using the network continued to come down by design. Whisk, Protocol 23, went live on mainnet in September 2025 and restructured rent and resource pricing, and the network's soroban limit parameters cap what a single transaction can consume, holding per-transaction cost down as usage grows. Fees have fallen in every quarter since, while transaction counts have risen in each of them. Daily active addresses averaged 63,442, down 10.2% from Q1. Address counts and asset growth are not expected to track each other closely on this network, because tokenized Treasuries and similar instruments are bought and held rather than transacted daily.
Financials
Stellar is a network supported by a nonprofit foundation, and its financial picture should be read that way. The Stellar Development Foundation exists to grow a network that is open to everyone, and there is no protocol revenue in the sense that a fee-capturing application has revenue.
Total transaction fees for Q2 2026 were $90,440, equivalent to 507,780 XLM, averaging $994 per day. That is a decline of 18.2% from Q1's $110,519, and it extends a four-quarter contraction from $553,931 in Q3 2025, through $268,161 in Q4 2025 and $110,519 in Q1 2026. Against 444.5 million transactions in the quarter, the implied average fee was roughly $0.0002.
The decline is a product decision with a specific mechanism behind it. Whisk, Protocol 23, was activated to restructure rent and read costs so that contract execution became materially cheaper. Alongside it, the limits set by the Stellar Limits Proposal cap the resources a single transaction can consume, which holds per-transaction cost down as usage grows. Fees have fallen in every quarter since Whisk went live, while transaction counts have risen in each of those quarters. Cheap access is the objective. The fee line is where it’s demonstrated.
The composition of those fees is the more informative figure. Soroban accounted for 94.4% of network fees in Q2 while handling 41.3% of transactions. Contract execution consumes metered resources, meaning instructions, ledger reads and writes, and rent for persistent state, where classic payment operations pay a flat base fee. As contract activity grows as a share of the network, fees concentrate there, and classic payments contribute very little to the pool.
Stellar's transaction fees collect in a locked fee pool. They are not burned, not distributed to validators, and not spendable by the Foundation. There is no staking yield, because the Stellar Consensus Protocol is not proof-of-stake, and there is no buyback or burn mechanism. Fees accumulate outside circulation.
XLM circulating supply closed the quarter at 33.98 billion, up 2.8% from 33.04 billion at the end of Q1. Stellar removed its inflation mechanism by community protocol upgrade in 2019, so the increase is distribution from Foundation-held balances rather than new issuance. Either way, 0.93 billion additional XLM reached the market during the quarter, and the proportional claim of existing holders fell accordingly. Q2 was the fastest quarter of distribution in the past year, ahead of 0.66 billion in Q1 and 0.48 billion in Q4 2025.
The Foundation's position is disclosed onchain across labeled accounts covering development, ecosystem growth, product and innovation, and assets and liquidity. Deducting circulating supply, the locked fee pool, and the upgrade reserve from the 50.00 billion total leaves approximately 15.76 billion XLM in SDF mandate accounts at June 30, equal to 46% of circulating supply and 32% of total supply. At the Q2 distribution rate that balance represents several years of potential supply. The holdings are large, identifiable, and publicly trackable. Scale and transparency are separate facts about them.
Network Activity & Payments
Stellar processed 444.5 million transactions in Q2 2026, up 7.4% from Q1, averaging 4.89 million per day. The share that failed fell to 26.0%, a fourth consecutive quarterly improvement from 36.0% in Q3 2025. Operations grew faster, reaching 1.10 billion, up 29.4% quarter over quarter. Operations are the unit of user intent, since each one is a discrete instruction a sender asked the network to carry out, while resource utilization is the under-the-hood quantity that sets what a transaction costs.
The rise in operations per transaction came entirely from the classic side of the ledger. Classic transactions carried 3.50 operations each in Q2 against 2.72 in Q1, a 29% increase on a classic transaction count that grew only 3.1%. Soroban transactions carry exactly one operation each, in this quarter and every prior one. Senders, meaning developers and applications, package multiple operations into a single classic transaction envelope before submitting it, and they did more of that this quarter. Because a Soroban envelope carries one operation regardless of how much computation it performs, operation counts cannot be used to compare the scale of work in the two environments.
Address activity declined. Daily active addresses averaged 63,442 in Q2 against 70,632 in Q1, down 10.2%, and below the 75,283 of Q3 2025, the high of the five-quarter window.
Daily address counts measure participants who transact on a given day, which is a poor proxy for holdings in assets that are bought and held. Tokenized Treasuries, corporate credit, and similar instruments generate little recurring transaction activity by design. Asset growth and daily address counts are therefore not expected to move together on this network, and the gap between them this quarter should not be read as either confirming or contradicting the other.
Payment volume recovered to $16.43 billion, up 68.8% from $9.73 billion in Q1. USDC carried 56.3% of that volume, XLM 36.3%, other stablecoins 4.2%, tokenized real-world asset transfers 2.7%, and all remaining assets 0.6%.
The distribution matters more than the total. Median daily payment volume was $159 million while the mean was $181 million and the single largest day reached $735 million. Three days account for a disproportionate share of the quarter. On May 29 the network settled $735 million, of which $401 million was tokenized real-world asset transfers, a single institutional settlement rather than recurring throughput. On June 29 and June 30, volumes of $731 million and $715 million were almost entirely USDC. Underneath those spikes the network ran a stable base of roughly $150 million to $180 million a day, and that base is the better guide to what recurs.
Disbursements through the Stellar Disbursement Platform totaled $0.6 million for the quarter across 2,050 payments. These are programmatic aid and remittance flows, and they are reported separately from organic payment activity rather than blended into it.
Stellar's stablecoin throughput can be measured two ways, and the answers differ by more than a factor of two, so the basis matters whenever the figure is quoted. Counting payment operations, which is what a user would recognize as sending money, stablecoin volume was $9.93 billion in Q2, up 80.2% quarter over quarter. Counting every stablecoin transfer across all operation types, including DEX trades and contract movements that are not user payments, the Foundation reports $11.4 billion, up 72%.
This report uses the payment-operation figure throughout, because it corresponds to economic settlement rather than internal contract mechanics.
Tokenized Assets & Stablecoins
Real-world assets
Tokenized real-world assets on Stellar closed Q2 2026 at $3.00 billion, up 100.0% from $1.50 billion at the end of Q1. Over five quarters the total grew roughly sixfold, from $493 million at the end of Q2 2025. The network crossed $1 billion in January, $2 billion in April, and $3 billion in June. The pace is the notable part, not the level. Every figure in this section counts tokenized real-world assets and excludes stablecoins.
By asset class at quarter close, US Treasury debt is the anchor at $1,203 million across 16 instruments. Active strategies follow at $560 million across 6, corporate credit at $513 million across 4, and non-US government debt at $487 million across 6. Real estate accounts for $166 million across 18 instruments and tokenized stocks $26 million across 6. Four smaller classes hold the remaining $42 million between them: private equity at $23 million, asset-backed credit at $16 million, and commodities and diversified credit at under $2 million each. The concentration in government and corporate fixed income is what makes the DTCC scope, which centers on Treasuries and index constituents, a natural extension of what is already there.
Composition above is a single-quarter position, not a trend. The subclass taxonomy was recut twice during the past year, and categories split rather than renamed, so subclass balances are not comparable across quarters even though the totals are.
Issuer concentration is the risk that deserves naming. Thirteen issuers held tokenized assets on Stellar at quarter close. The top four held 92.5% of the total. Spiko accounted for $1,089 million, or 36.3%, across 9 instruments. Franklin Templeton held $596 million (19.9%) across 4, Realiz $558 million (18.6%) across 3, and Ondo $530 million (17.7%) in a single instrument. Ranked by issuer, Franklin Templeton is second to Spiko. Ranked by individual asset, Franklin Templeton's BENJI sits behind Ondo's USDY, so descriptions of BENJI as the largest or second-largest tokenized asset on Stellar depend on which of those two bases is meant. The practical implication is that the headline figure is presently a function of four issuers' commercial decisions, and the migration of any one of them would be visible in the total immediately.
Stablecoins and wrappers
Stablecoin balances closed Q2 at $346 million, up 16.0% from $298 million at the end of Q1. USDC dominates at $258 million held across 643,185 accounts. Two issuances are new this quarter: MoneyGram's MGUSD at $25.0 million across 4 holding accounts, and Figure's YLDS at $25.0 million across 7. Supply in both sits with issuers rather than distributed users. Holder counts would need to rise before those balances represent retail circulation. Among the established issuances, SG Forge's EURCV held $17.1 million, PYUSD $7.9 million, Novatti's AUDD $3.8 million, and Circle's EURC $3.1 million across 4,582 accounts.
Stablecoin participation was flat. Daily senders averaged 24,331 in Q2 against 24,442 in Q1, and daily receivers 22,484 against 22,357, both within a percentage point of the prior quarter. These counts cover classic Stellar accounts only; activity held in contracts, liquidity pools, and claimable balances is excluded. Set against 16.0% balance growth and 80.2% growth in stablecoin payment volume, the same number of participants moved more value.
Regulated wrapper exposure remains small. Four spot exchange-traded products referencing XLM held $69.9 million at quarter close, taking in $2.2 million of net inflows against effectively flat flows in Q1. The category is immaterial to the network's economics at this size.
Protocol Analysis
Platform migration
The clearest structural trend on Stellar is the growth of Soroban contract execution alongside classic payment operations. Both run on the same ledger and are secured by the same validators. Soroban handled 41.3% of all network transactions in Q2, up from 38.8% in Q1 and 25.3% in Q3 2025. The growth differential drives the mix: Soroban transactions rose 14.3% quarter over quarter while classic transactions rose 3.1%. On economic measures the shift is further along than the transaction count suggests, with Soroban carrying 94.4% of network fees and 82.4% of onchain trading volume.
Onchain trading volume totaled $2.78 billion in Q2, up 54.8% from $1.80 billion in Q1. Soroban venues carried $2.29 billion of that, the classic orderbook $454 million, and classic automated market maker pools $36 million. Trade count grew faster still, reaching 63.8 million against 37.3 million in Q1.
DeFi total value locked closed the quarter at $196 million, up 18.4% from $166 million at the end of Q1. The intra-quarter path was not smooth. TVL peaked at $243 million on May 30 before retracing, and touched a low of $158 million on May 23.
Consensus and security
The validator set expanded over the quarter, from 87 active validators at the close of Q1 to 94 at the close of Q2. The categories are nested, not additive. Of the 94 active validators at quarter close, 70 were full validators that also publish history archives, and 21 of those sat in the tier-one quorum set that anchors network consensus. Set alongside the Foundation's publicly labeled mandate accounts, this is the concrete material for assessing decentralization: the validator count is growing, tier-one membership is small and identifiable, and Foundation holdings are trackable. Stellar's consensus does not use stake weighting, so validator influence is a function of quorum configuration rather than token holdings.
Protocol 26, "Yardstick," reached mainnet on May 6, 2026 following an April 16 testnet deployment. Its headline capability, CAP-77 Quorum Freeze, is the first protocol-native onchain account freeze mechanism on a major layer 1, allowing validators to freeze compromised ledger keys through federated consensus within minutes rather than hours. It answers a pattern of exploits across the industry, where the absence of formalized emergency tooling forced ad-hoc coordination. A February 2026 DeFi exploit on Stellar was one of the incidents that informed it. Yardstick also added checked 256-bit arithmetic to prevent overflow in financial calculations, lower-cost BN254 cryptographic operations to support zero-knowledge applications, and Stellar Asset Contract improvements.
Protocol 27, "Zipper," entered testnet on June 18. Two features arrive through CAP-71. Authentication delegation lets custom smart contract accounts delegate authentication logic to other addresses, and address-bound Soroban credentials bind an authorization payload to the address it was signed for, preventing cross-account signature replay. Zipper passed its mainnet vote and activated on July 8, 2026, shortly after the quarter closed. Stellar recorded no core protocol security incidents in Q2 and maintained uptime above 99.99%.
Product & Ecosystem Updates
Institutional infrastructure
The DTCC selection announced on May 27 is the quarter's most consequential development. DTCC and the Stellar Development Foundation will evaluate tokenization use cases across Russell 1000 constituents, ETFs tracking major indices, and US Treasury bills, bonds, and notes, with availability targeted for the first half of 2027. The arrangement was enabled by a no-action letter the Depository Trust Company received from the SEC in December 2025. Under the announced design, DTC retains the authoritative legal record while Stellar hosts a synchronized onchain representation.
Bermuda selected Stellar during the quarter to support its plan to operate as a fully onchain national economy, extending the regulated-issuance pattern from asset classes to a sovereign context.
Products shipped
MoneyGram launched MGUSD, a regulated digital dollar reaching a cash network serving more than 60 million customers. Stellar is the exclusive network for both the MoneyGram wallet and the MGUSD stablecoin, and 2026 marks five years since MoneyGram's cash ramps first went live on Stellar. MoneyGram joined Stellar's tier-one validator set on July 16, alongside Figure Markets and Range, deepening its operational commitment to the network.
On agentic payments, Stellar shipped the x402 specification and SDK and joined the x402 Foundation with a board seat, and delivered a full Multi-Party Payments SDK within a week of the Stripe and Tempo announcement. Circle's CCTP is live on the network connecting 23 chains.
Two forward-looking items reached preview rather than production. The Confidential Tokens developer preview was released on June 29, allowing any SEP-41 token to hold private balances and transfer amounts using Noir-based zero-knowledge proofs while keeping sender and recipient addresses visible for compliance. It runs on testnet and is not approved for mainnet. On June 9, the Foundation published a Quantum Preparedness Plan setting out a three-stage path to post-quantum security, beginning with post-quantum verification in Soroban contracts before protocol-level integration.
Ecosystem
Developer activity was the standout ecosystem measure. Stellar reached 2,968 monthly active developers as of June 30, an all-time high and up 125% year over year, ranking second globally on that measure. Growth concentrated in Nigeria, India, Turkey, and Brazil. Stellar Community Fund rounds 42 and 43 committed $5.5 million across 55 companies.
Regional distribution advanced on several fronts: MGUSD, YLDS, and Stellar House Mexico City in Latin America; AllUnity's EURAU and Cashlink in Europe; and Matrixdock, Bitkub, Ant Digital's TopNod, Kenanga, and Marketnode across APAC. Meridian 2026 is scheduled for Lisbon on October 28 and 29.
Closing Summary
Stellar closes Q2 2026 with its strongest institutional validation to date. Tokenized real-world assets doubled to $3.00 billion, payment volume recovered 68.8% to $16.43 billion, stablecoin balances grew 16.0%, developer activity hit an all-time high, and the network shipped a mainnet upgrade on schedule with a second following in July. DTCC's selection puts the core of US market infrastructure on a path toward the network under an existing regulatory accommodation.
The tokenholder question is separate from the adoption question, and it turns on mechanics that have not changed. Fees collect in a locked pool that cannot be spent or distributed. There is no staking yield, no burn, and no buyback. Network fees fell 18.2% to $90,440 and have declined every quarter since the Whisk upgrade restructured resource pricing, which is the intended result of making the network cheaper to use. Adoption of the network and accrual to the asset are governed by different mechanisms.
Participation narrowed while value grew. Daily active addresses fell 10.2%, while stablecoin senders and receivers held flat and the value they moved rose sharply. For assets that are bought and held, that combination is expected rather than contradictory, but it does mean this quarter's growth came through a smaller set of transacting participants.
Three things would further validate growth in Q3. First, a firmed DTCC implementation timeline ahead of the H1 2027 target. Second, issuer diversification in the RWA base, where four issuers hold 92.5% of $3.00 billion and Spiko alone holds 36.3%; growth from a fifth and sixth issuer of scale would make the total more durable than growth from the existing four. Third, distribution of the newer stablecoins, where MGUSD and YLDS each hold $25.0 million across single-digit account counts and will only represent circulation once holder counts rise.
Protocol 27 activated on mainnet on July 8, holding the one-upgrade-per-quarter cadence intact, and Meridian in Lisbon at the end of October gives the Foundation a natural forum for the next set of commitments. The growth of Soroban, now 41.3% of transactions and the large majority of fees and trading volume, is the structural change most likely to determine what Stellar’s growth looks like a year from now.
For full pdf download visit https://blockworks.com/quarterly-reports.
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Morpho Effect August 2026: New All-time High
Morpho's total deposits crossed $14B in August, a new all-time high.
That is roughly 25% of the crypto-backed lending market. Here is a breakdown of the ±$14B total deposits on Morpho, with a large proportion being stablecoins, as well as bluechip digital assets such as BTC and ETH. However, compared with Morpho's ambition to become open credit network for the world, and to address the $200T global market, $14B is still a very small amount.
To visualize the ambition and where we currently are at, this animation from Merlin Egalite is quite telling.
The missing piece to move us from $14B to beyond crypto-backed lending is Morpho Midnight, the fixed rate, fixed term protocol launched in July. Morpho Midnight: New Features Morpho Midnight is in its gradual rollout phase since July 2026, with new features coming every week. If you're looking for a primer on Morpho Midnight, DeFiSaver put out a very clear whiteboard explanatory video:
Historically, fixed rate protocols face a few challenges: blockchain technology was immature (read: high gas fees), last generation of fixed rate protocols fragment liquidity (read: once locked into a loan, users could not exit), there is a lack of network of liquidity to support the new fixed rate protocol (read: users can't find the optimal rates) Here are the new Morpho Midnight features that bring a complete lending and borrowing experience for users: Early Exit: exit a position by offering limit orders on the secondary market, making getting in and out of a fixed-term position much easier
Lend Callbacks: while a lend order for a higher rate is open, the capital can be earning a balance line variable yield on Morpho Blue
Here is an illustration of how Lend Callback works
Another innovation with Morpho Midnight is that for the first time ever, users are not just price-takers, but also price-makers: they can name their desired rate on the orderbook and wait for their orders to be filled. Since this is a new paradigm for onchain credit, we designed an open source Quoter Bot that produces reference rates on any live Morpho Midnight Markets, on both the lender and borrower side. Currently, the Morpho Association implementation is live, with the goal of Market Makers launching their own Quoting Bots and retire the Morpho Association implementations. $5B on Base is the new day one Morpho's total deposits on @Base have passed $5B (sitting at $5.7B at the time of writing). The story behind that number shows how an open credit network helps a blockchain built for global finance grow, and how it gives asset issuers real distribution and utility. The growth went through 3 distinct phases: an early conviction that Base is going to be a key player in onchain finance, the DeFi Mullet: Coinbase in the front, Morpho on Base in the back, and finally, the open financial infrastructure for the world.
And the $5B milestone is just the beginning, with Morpho Midnight launching on Base, Tokenized Stocks going live on Base - credit use cases built on Morpho and Base will only increase. Robinhood Earn scales to $400M+ in deposits In July, Robinhood Earn crossed $250M in its first month. In August, it passed $400M in total deposits. This is the fastest growing Earn integrations of Morpho by a mainstream distributor. The investment app that introduced a generation of Americans to investing keeps introducing them to onchain yield, and they keep showing up.
Tokenized stocks are the next new frontier for onchain credit Onchain credit has so far meant one thing: crypto-backed loans. Paul's new article lays out what it takes to move beyond them, starting with tokenized stocks. The challenge: stocks are regulated instruments, so who can hold, lend, borrow, or liquidate them varies by asset and jurisdiction (read: bespoke compliance for every market), and borrowers want to pledge whole portfolios (read: near-infinite collateral combinations). Pool-based lending can only serve this by commingling risks or fragmenting liquidity. The opportunity: two multi-trillion dollar markets that are still offchain are tokenized stock-backed lending (unlock liquidity without selling the portfolio) and tokenized stock lending (lend stocks out against collateral, for a fee). The solution: Morpho Midnight was designed for exactly these use cases. Multi-collateral isolated markets let a whole portfolio back a single borrow position, with each portfolio as its own isolated market. Programmable compliance makes access controls an optional market parameter, with no wrappers or separate protocol instances. And because markets are offer-based rather than pool-based, capital can quote across many markets at once: a new market needs only one lender and one borrower who agree on terms, so there can be a price for every portfolio, without fragmenting liquidity. The Morpho Effect is compounding Morpho is now the biggest DeFi protocol for euro-denominated deposits Coinbase's tokenized stocks are now available as collateral on Morpho Deel is expanding its Morpho-powered earn offering to new regions Touchstone joins Morpho as a curator, bringing gold-backed credit expertise from institutional credit and tokenized gold treasury management to the Morpho ecosystem MORPHO is now listed on the Robinhood App Onchain credit is coming to Arc mainnet, powered by Morpho weETH deposits on Morpho continue to grow
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quote: "13/ @selfxyz and Google Cloud launched the USAT Mainnet Faucet on @Celo, letting anyone verified on Self claim USA₮."
Thanks for the inclusion, @Ethereum.
There's more to come very soon, stay tuned. | Ethereum is for shipping.
Here are 35 things the Ethereum ecosystem launched, upgraded, and announced through August.
1/ GnosisDAO approved a vote to transition @gnosischain from its own L1 to a ZK-proven Ethereum L2 rollup with synchronous composability, so apps on Gnosis and Ethereum can interact in a single transaction.
2/ @BlackRock introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL) with a tokenized share class on Ethereum mainnet for managing stablecoin and digital asset reserves, and began tokenizing share classes of its $311B European money market fund series on Ethereum.
3/ @aztecnetwork launched Alpha v5, a protocol upgrade that reduced private transaction proving times and brought the first wave of privacy-preserving apps to the network.
4/ @Uniswap processed $1B+ in stock token volume and $20B+ in total volume on @RobinhoodCrypto's Robinhood Chain since its July launch.
5/ @ethPandaOps introduced the Platåberget testnet, preparing client implementations for Glamsterdam, Ethereum's next network upgrade.
6/ @Morpho crossed $880M in total deposits on Robinhood Chain in its first <2 months live and reached $5.75B in total deposits on @base.
7/ @web3privacy shared the Ethereum Privacy Ecosystem Mapping 2026, an updated map and repository covering Ethereum’s privacy ecosystem.
8/ @Revolut announced the phased rollout of its euro-denominated stablecoin EURR, live on Ethereum for eligible users.
9/ @aave v4 surpassed $525M in deposits on Ethereum.
10/ Coinbase Tokenized Stocks launched on @base for non-U.S. users, held 1:1 by a regulated custodian, owned in self-custody wallets, and usable across DeFi 24/7.
11/ @FreedomFactory opened presales for the PQ1, a fully open-source, air-gapped hardware wallet that signs with post-quantum cryptography through an Ethereum smart account.
12/ @OctantApp launched Epoch 13, its latest funding round, focused on privacy on Ethereum and across the open internet.
13/ @selfxyz and Google Cloud launched the USAT Mainnet Faucet on @Celo, letting anyone verified on Self claim USA₮.
14/ @PrivacyBoost launched the Privacy Boost App, a frontend to send private transfers from your connected wallet.
15/ @Whitechain_io, the distribution-focused network connected to the WhiteBit ecosystem, announced it is evolving from an L1 into an Ethereum L2 built on the OP Stack.
16/ @ether_fi added tokenized stocks, portfolio-backed loans through @aave, and other new features to its crypto neobank.
17/ @ethereuminsti announced its ecosystem funding round and supporter coalition, welcoming 100+ organizations to support Ethereum's institutional onboarding, and shared that Open Standard's Open USD stablecoin will launch on Ethereum on day one.
18/ @class_lambda and @gattacahq shared that their PropAMM (pAMMs) infrastructure has facilitated over $2B in total volume swapped on Ethereum.
19/ @theInterfold, an open-source protocol for confidential coordination and encrypted execution environments built on Ethereum, launched its Network Alpha production environment.
20/ @arbitrum activated ArbOS Elara, bringing more responsive fees and 4x bigger Stylus smart contracts to Arbitrum One, along with new features for chains built on the Arbitrum stack.
21/ @Uniswap launched v4 Permissioned Pools, a hook standard to enforce allowlists on swaps and liquidity deposits while the protocol itself stays permissionless, bringing regulated assets to AMM trading with launch partners @SuperstateInc, @Securitize, and Dowgo.
22/ @EthCoordinate, a new crypto-native organization building on the EthStaker community's work, was formed to support Ethereum governance coordination, facilitate stakeholder interaction, and accelerate Ethereum adoption.
23/ @MetaMask launched the MetaMask Agent Wallet, an agentic wallet with built-in spending limits, allowlists, and risk profiles.
24/ @ResearchHub, a tool for the open funding, publication, and discussion of scientific research built on Ethereum and @base, launched a new homepage to surface open research proposals and funding requests.
25/ @base opened applications for Base Batches 004, a startup accelerator program for 10 early-stage teams, and also launched Base Verify Onchain, a privacy-preserving identity layer for apps to enforce one-person-one-claim onchain distributions.
26/ @Cloudflare announced Wallets, enabling AI agents to buy APIs and content with stablecoin payments over the x402 payment standard.
27/ The @ethereumfndn launched the better[.]codes autoresearch challenge to advance post-quantum Ethereum, built with @zksecurityXYZ and @eigenlabs on @yukonresearch, putting a machine-verified security problem on a public leaderboard that anyone can push forward. @Lighter_xyz also launched the Lighter Prover challenge, an autoresearch competition to make Lighter's production exchange faster.
28/ Privacy-focused wallet @staycloakedxyz reached $650k in deposits and $1M in volume in its first 90 days live.
29/ @mtpelerin added support for @ensdomains names as sending and receiving addresses when creating personal IBANs for bank transfers in crypto.
30/ @Blockspace_ETH was announced, a company focused on out-of-protocol infrastructure for Ethereum blockspace.
31/ @0xprivacypools launched onchain payroll support, allowing employers to provide recurring wage payments with privacy for salary amounts and recipient addresses.
32/ Fake World Assets (FWA), a NFT gacha protocol by @token_works, launched the FWAir NFT distribution mechanism with an initial 111 item PFP collection.
33/ Builder @z0r0zzz launched zSwap, a fully onchain decentralized exchange built on Ethereum, with all code, including frontend and application logic, stored on mainnet smart contracts.
34/ MMO game @playcambria surpassed $10M in total game volume in August, and @LootSurvivor and Cambria launched a 72-hour onchain dungeon competition.
35/ @EFDevcon released the official Devcon 8 travel guide for Mumbai ahead of this year's Devcon 8 conference in November.
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news9/3news
Ethereum is for shipping.
Here are 35 things the Ethereum ecosystem launched, upgraded, and announced through August.
1/ GnosisDAO approved a vote to transition @gnosischain from its own L1 to a ZK-proven Ethereum L2 rollup with synchronous composability, so apps on Gnosis and Ethereum can interact in a single transaction.
2/ @BlackRock introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL) with a tokenized share class on Ethereum mainnet for managing stablecoin and digital asset reserves, and began tokenizing share classes of its $311B European money market fund series on Ethereum.
3/ @aztecnetwork launched Alpha v5, a protocol upgrade that reduced private transaction proving times and brought the first wave of privacy-preserving apps to the network.
4/ @Uniswap processed $1B+ in stock token volume and $20B+ in total volume on @RobinhoodCrypto's Robinhood Chain since its July launch.
5/ @ethPandaOps introduced the Platåberget testnet, preparing client implementations for Glamsterdam, Ethereum's next network upgrade.
6/ @Morpho crossed $880M in total deposits on Robinhood Chain in its first <2 months live and reached $5.75B in total deposits on @base.
7/ @web3privacy shared the Ethereum Privacy Ecosystem Mapping 2026, an updated map and repository covering Ethereum’s privacy ecosystem.
8/ @Revolut announced the phased rollout of its euro-denominated stablecoin EURR, live on Ethereum for eligible users.
9/ @aave v4 surpassed $525M in deposits on Ethereum.
10/ Coinbase Tokenized Stocks launched on @base for non-U.S. users, held 1:1 by a regulated custodian, owned in self-custody wallets, and usable across DeFi 24/7.
11/ @FreedomFactory opened presales for the PQ1, a fully open-source, air-gapped hardware wallet that signs with post-quantum cryptography through an Ethereum smart account.
12/ @OctantApp launched Epoch 13, its latest funding round, focused on privacy on Ethereum and across the open internet.
13/ @selfxyz and Google Cloud launched the USAT Mainnet Faucet on @Celo, letting anyone verified on Self claim USA₮.
14/ @PrivacyBoost launched the Privacy Boost App, a frontend to send private transfers from your connected wallet.
15/ @Whitechain_io, the distribution-focused network connected to the WhiteBit ecosystem, announced it is evolving from an L1 into an Ethereum L2 built on the OP Stack.
16/ @ether_fi added tokenized stocks, portfolio-backed loans through @aave, and other new features to its crypto neobank.
17/ @ethereuminsti announced its ecosystem funding round and supporter coalition, welcoming 100+ organizations to support Ethereum's institutional onboarding, and shared that Open Standard's Open USD stablecoin will launch on Ethereum on day one.
18/ @class_lambda and @gattacahq shared that their PropAMM (pAMMs) infrastructure has facilitated over $2B in total volume swapped on Ethereum.
19/ @theInterfold, an open-source protocol for confidential coordination and encrypted execution environments built on Ethereum, launched its Network Alpha production environment.
20/ @arbitrum activated ArbOS Elara, bringing more responsive fees and 4x bigger Stylus smart contracts to Arbitrum One, along with new features for chains built on the Arbitrum stack.
21/ @Uniswap launched v4 Permissioned Pools, a hook standard to enforce allowlists on swaps and liquidity deposits while the protocol itself stays permissionless, bringing regulated assets to AMM trading with launch partners @SuperstateInc, @Securitize, and Dowgo.
22/ @EthCoordinate, a new crypto-native organization building on the EthStaker community's work, was formed to support Ethereum governance coordination, facilitate stakeholder interaction, and accelerate Ethereum adoption.
23/ @MetaMask launched the MetaMask Agent Wallet, an agentic wallet with built-in spending limits, allowlists, and risk profiles.
24/ @ResearchHub, a tool for the open funding, publication, and discussion of scientific research built on Ethereum and @base, launched a new homepage to surface open research proposals and funding requests.
25/ @base opened applications for Base Batches 004, a startup accelerator program for 10 early-stage teams, and also launched Base Verify Onchain, a privacy-preserving identity layer for apps to enforce one-person-one-claim onchain distributions.
26/ @Cloudflare announced Wallets, enabling AI agents to buy APIs and content with stablecoin payments over the x402 payment standard.
27/ The @ethereumfndn launched the better[.]codes autoresearch challenge to advance post-quantum Ethereum, built with @zksecurityXYZ and @eigenlabs on @yukonresearch, putting a machine-verified security problem on a public leaderboard that anyone can push forward. @Lighter_xyz also launched the Lighter Prover challenge, an autoresearch competition to make Lighter's production exchange faster.
28/ Privacy-focused wallet @staycloakedxyz reached $650k in deposits and $1M in volume in its first 90 days live.
29/ @mtpelerin added support for @ensdomains names as sending and receiving addresses when creating personal IBANs for bank transfers in crypto.
30/ @Blockspace_ETH was announced, a company focused on out-of-protocol infrastructure for Ethereum blockspace.
31/ @0xprivacypools launched onchain payroll support, allowing employers to provide recurring wage payments with privacy for salary amounts and recipient addresses.
32/ Fake World Assets (FWA), a NFT gacha protocol by @token_works, launched the FWAir NFT distribution mechanism with an initial 111 item PFP collection.
33/ Builder @z0r0zzz launched zSwap, a fully onchain decentralized exchange built on Ethereum, with all code, including frontend and application logic, stored on mainnet smart contracts.
34/ MMO game @playcambria surpassed $10M in total game volume in August, and @LootSurvivor and Cambria launched a 72-hour onchain dungeon competition.
35/ @EFDevcon released the official Devcon 8 travel guide for Mumbai ahead of this year's Devcon 8 conference in November.
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Ethereum is for shipping.
Here are 35 things the Ethereum ecosystem launched, upgraded, and announced through August.
1/ GnosisDAO approved a vote to transition @gnosischain from its own L1 to a ZK-proven Ethereum L2 rollup with synchronous composability, so apps on Gnosis and Ethereum can interact in a single transaction.
2/ @BlackRock introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL) with a tokenized share class on Ethereum mainnet for managing stablecoin and digital asset reserves, and began tokenizing share classes of its $311B European money market fund series on Ethereum.
3/ @aztecnetwork launched Alpha v5, a protocol upgrade that reduced private transaction proving times and brought the first wave of privacy-preserving apps to the network.
4/ @Uniswap processed $1B+ in stock token volume and $20B+ in total volume on @RobinhoodCrypto's Robinhood Chain since its July launch.
5/ @ethPandaOps introduced the Platåberget testnet, preparing client implementations for Glamsterdam, Ethereum's next network upgrade.
6/ @Morpho crossed $880M in total deposits on Robinhood Chain in its first <2 months live and reached $5.75B in total deposits on @base.
7/ @web3privacy shared the Ethereum Privacy Ecosystem Mapping 2026, an updated map and repository covering Ethereum’s privacy ecosystem.
8/ @Revolut announced the phased rollout of its euro-denominated stablecoin EURR, live on Ethereum for eligible users.
9/ @aave v4 surpassed $525M in deposits on Ethereum.
10/ Coinbase Tokenized Stocks launched on @base for non-U.S. users, held 1:1 by a regulated custodian, owned in self-custody wallets, and usable across DeFi 24/7.
11/ @FreedomFactory opened presales for the PQ1, a fully open-source, air-gapped hardware wallet that signs with post-quantum cryptography through an Ethereum smart account.
12/ @OctantApp launched Epoch 13, its latest funding round, focused on privacy on Ethereum and across the open internet.
13/ @selfxyz and Google Cloud launched the USAT Mainnet Faucet on @Celo, letting anyone verified on Self claim USA₮.
14/ @PrivacyBoost launched the Privacy Boost App, a frontend to send private transfers from your connected wallet.
15/ @Whitechain_io, the distribution-focused network connected to the WhiteBit ecosystem, announced it is evolving from an L1 into an Ethereum L2 built on the OP Stack.
16/ @ether_fi added tokenized stocks, portfolio-backed loans through @aave, and other new features to its crypto neobank.
17/ @ethereuminsti announced its ecosystem funding round and supporter coalition, welcoming 100+ organizations to support Ethereum's institutional onboarding, and shared that Open Standard's Open USD stablecoin will launch on Ethereum on day one.
18/ @class_lambda and @gattacahq shared that their PropAMM (pAMMs) infrastructure has facilitated over $2B in total volume swapped on Ethereum.
19/ @theInterfold, an open-source protocol for confidential coordination and encrypted execution environments built on Ethereum, launched its Network Alpha production environment.
20/ @arbitrum activated ArbOS Elara, bringing more responsive fees and 4x bigger Stylus smart contracts to Arbitrum One, along with new features for chains built on the Arbitrum stack.
21/ @Uniswap launched v4 Permissioned Pools, a hook standard to enforce allowlists on swaps and liquidity deposits while the protocol itself stays permissionless, bringing regulated assets to AMM trading with launch partners @SuperstateInc, @Securitize, and Dowgo.
22/ @EthCoordinate, a new crypto-native organization building on the EthStaker community's work, was formed to support Ethereum governance coordination, facilitate stakeholder interaction, and accelerate Ethereum adoption.
23/ @MetaMask launched the MetaMask Agent Wallet, an agentic wallet with built-in spending limits, allowlists, and risk profiles.
24/ @ResearchHub, a tool for the open funding, publication, and discussion of scientific research built on Ethereum and @base, launched a new homepage to surface open research proposals and funding requests.
25/ @base opened applications for Base Batches 004, a startup accelerator program for 10 early-stage teams, and also launched Base Verify Onchain, a privacy-preserving identity layer for apps to enforce one-person-one-claim onchain distributions.
26/ @Cloudflare announced Wallets, enabling AI agents to buy APIs and content with stablecoin payments over the x402 payment standard.
27/ The @ethereumfndn launched the better[.]codes autoresearch challenge to advance post-quantum Ethereum, built with @zksecurityXYZ and @eigenlabs on @yukonresearch, putting a machine-verified security problem on a public leaderboard that anyone can push forward. @Lighter_xyz also launched the Lighter Prover challenge, an autoresearch competition to make Lighter's production exchange faster.
28/ Privacy-focused wallet @staycloakedxyz reached $650k in deposits and $1M in volume in its first 90 days live.
29/ @mtpelerin added support for @ensdomains names as sending and receiving addresses when creating personal IBANs for bank transfers in crypto.
30/ @Blockspace_ETH was announced, a company focused on out-of-protocol infrastructure for Ethereum blockspace.
31/ @0xprivacypools launched onchain payroll support, allowing employers to provide recurring wage payments with privacy for salary amounts and recipient addresses.
32/ Fake World Assets (FWA), a NFT gacha protocol by @token_works, launched the FWAir NFT distribution mechanism with an initial 111 item PFP collection.
33/ Builder @z0r0zzz launched zSwap, a fully onchain decentralized exchange built on Ethereum, with all code, including frontend and application logic, stored on mainnet smart contracts.
34/ MMO game @playcambria surpassed $10M in total game volume in August, and @LootSurvivor and Cambria launched a 72-hour onchain dungeon competition.
35/ @EFDevcon released the official Devcon 8 travel guide for Mumbai ahead of this year's Devcon 8 conference in November.
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Ethereum is for shipping.
Here are 35 things the Ethereum ecosystem launched, upgraded, and announced through August.
1/ GnosisDAO approved a vote to transition @gnosischain from its own L1 to a ZK-proven Ethereum L2 rollup with synchronous composability, so apps on Gnosis and Ethereum can interact in a single transaction.
2/ @BlackRock introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL) with a tokenized share class on Ethereum mainnet for managing stablecoin and digital asset reserves, and began tokenizing share classes of its $311B European money market fund series on Ethereum.
3/ @aztecnetwork launched Alpha v5, a protocol upgrade that reduced private transaction proving times and brought the first wave of privacy-preserving apps to the network.
4/ @Uniswap processed $1B+ in stock token volume and $20B+ in total volume on @RobinhoodCrypto's Robinhood Chain since its July launch.
5/ @ethPandaOps introduced the Platåberget testnet, preparing client implementations for Glamsterdam, Ethereum's next network upgrade.
6/ @Morpho crossed $880M in total deposits on Robinhood Chain in its first <2 months live and reached $5.75B in total deposits on @base.
7/ @web3privacy shared the Ethereum Privacy Ecosystem Mapping 2026, an updated map and repository covering Ethereum’s privacy ecosystem.
8/ @Revolut announced the phased rollout of its euro-denominated stablecoin EURR, live on Ethereum for eligible users.
9/ @aave v4 surpassed $525M in deposits on Ethereum.
10/ Coinbase Tokenized Stocks launched on @base for non-U.S. users, held 1:1 by a regulated custodian, owned in self-custody wallets, and usable across DeFi 24/7.
11/ @FreedomFactory opened presales for the PQ1, a fully open-source, air-gapped hardware wallet that signs with post-quantum cryptography through an Ethereum smart account.
12/ @OctantApp launched Epoch 13, its latest funding round, focused on privacy on Ethereum and across the open internet.
13/ @selfxyz and Google Cloud launched the USAT Mainnet Faucet on @Celo, letting anyone verified on Self claim USA₮.
14/ @PrivacyBoost launched the Privacy Boost App, a frontend to send private transfers from your connected wallet.
15/ @Whitechain_io, the distribution-focused network connected to the WhiteBit ecosystem, announced it is evolving from an L1 into an Ethereum L2 built on the OP Stack.
16/ @ether_fi added tokenized stocks, portfolio-backed loans through @aave, and other new features to its crypto neobank.
17/ @ethereuminsti announced its ecosystem funding round and supporter coalition, welcoming 100+ organizations to support Ethereum's institutional onboarding, and shared that Open Standard's Open USD stablecoin will launch on Ethereum on day one.
18/ @class_lambda and @gattacahq shared that their PropAMM (pAMMs) infrastructure has facilitated over $2B in total volume swapped on Ethereum.
19/ @theInterfold, an open-source protocol for confidential coordination and encrypted execution environments built on Ethereum, launched its Network Alpha production environment.
20/ @arbitrum activated ArbOS Elara, bringing more responsive fees and 4x bigger Stylus smart contracts to Arbitrum One, along with new features for chains built on the Arbitrum stack.
21/ @Uniswap launched v4 Permissioned Pools, a hook standard to enforce allowlists on swaps and liquidity deposits while the protocol itself stays permissionless, bringing regulated assets to AMM trading with launch partners @SuperstateInc, @Securitize, and Dowgo.
22/ @EthCoordinate, a new crypto-native organization building on the EthStaker community's work, was formed to support Ethereum governance coordination, facilitate stakeholder interaction, and accelerate Ethereum adoption.
23/ @MetaMask launched the MetaMask Agent Wallet, an agentic wallet with built-in spending limits, allowlists, and risk profiles.
24/ @ResearchHub, a tool for the open funding, publication, and discussion of scientific research built on Ethereum and @base, launched a new homepage to surface open research proposals and funding requests.
25/ @base opened applications for Base Batches 004, a startup accelerator program for 10 early-stage teams, and also launched Base Verify Onchain, a privacy-preserving identity layer for apps to enforce one-person-one-claim onchain distributions.
26/ @Cloudflare announced Wallets, enabling AI agents to buy APIs and content with stablecoin payments over the x402 payment standard.
27/ The @ethereumfndn launched the better[.]codes autoresearch challenge to advance post-quantum Ethereum, built with @zksecurityXYZ and @eigenlabs on @yukonresearch, putting a machine-verified security problem on a public leaderboard that anyone can push forward. @Lighter_xyz also launched the Lighter Prover challenge, an autoresearch competition to make Lighter's production exchange faster.
28/ Privacy-focused wallet @staycloakedxyz reached $650k in deposits and $1M in volume in its first 90 days live.
29/ @mtpelerin added support for @ensdomains names as sending and receiving addresses when creating personal IBANs for bank transfers in crypto.
30/ @Blockspace_ETH was announced, a company focused on out-of-protocol infrastructure for Ethereum blockspace.
31/ @0xprivacypools launched onchain payroll support, allowing employers to provide recurring wage payments with privacy for salary amounts and recipient addresses.
32/ Fake World Assets (FWA), a NFT gacha protocol by @token_works, launched the FWAir NFT distribution mechanism with an initial 111 item PFP collection.
33/ Builder @z0r0zzz launched zSwap, a fully onchain decentralized exchange built on Ethereum, with all code, including frontend and application logic, stored on mainnet smart contracts.
34/ MMO game @playcambria surpassed $10M in total game volume in August, and @LootSurvivor and Cambria launched a 72-hour onchain dungeon competition.
35/ @EFDevcon released the official Devcon 8 travel guide for Mumbai ahead of this year's Devcon 8 conference in November.
95·A+Long
m
meme9/3meme
Ethereum is for shipping.
Here are 35 things the Ethereum ecosystem launched, upgraded, and announced through August.
1/ GnosisDAO approved a vote to transition @gnosischain from its own L1 to a ZK-proven Ethereum L2 rollup with synchronous composability, so apps on Gnosis and Ethereum can interact in a single transaction.
2/ @BlackRock introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL) with a tokenized share class on Ethereum mainnet for managing stablecoin and digital asset reserves, and began tokenizing share classes of its $311B European money market fund series on Ethereum.
3/ @aztecnetwork launched Alpha v5, a protocol upgrade that reduced private transaction proving times and brought the first wave of privacy-preserving apps to the network.
4/ @Uniswap processed $1B+ in stock token volume and $20B+ in total volume on @RobinhoodCrypto's Robinhood Chain since its July launch.
5/ @ethPandaOps introduced the Platåberget testnet, preparing client implementations for Glamsterdam, Ethereum's next network upgrade.
6/ @Morpho crossed $880M in total deposits on Robinhood Chain in its first <2 months live and reached $5.75B in total deposits on @base.
7/ @web3privacy shared the Ethereum Privacy Ecosystem Mapping 2026, an updated map and repository covering Ethereum’s privacy ecosystem.
8/ @Revolut announced the phased rollout of its euro-denominated stablecoin EURR, live on Ethereum for eligible users.
9/ @aave v4 surpassed $525M in deposits on Ethereum.
10/ Coinbase Tokenized Stocks launched on @base for non-U.S. users, held 1:1 by a regulated custodian, owned in self-custody wallets, and usable across DeFi 24/7.
11/ @FreedomFactory opened presales for the PQ1, a fully open-source, air-gapped hardware wallet that signs with post-quantum cryptography through an Ethereum smart account.
12/ @OctantApp launched Epoch 13, its latest funding round, focused on privacy on Ethereum and across the open internet.
13/ @selfxyz and Google Cloud launched the USAT Mainnet Faucet on @Celo, letting anyone verified on Self claim USA₮.
14/ @PrivacyBoost launched the Privacy Boost App, a frontend to send private transfers from your connected wallet.
15/ @Whitechain_io, the distribution-focused network connected to the WhiteBit ecosystem, announced it is evolving from an L1 into an Ethereum L2 built on the OP Stack.
16/ @ether_fi added tokenized stocks, portfolio-backed loans through @aave, and other new features to its crypto neobank.
17/ @ethereuminsti announced its ecosystem funding round and supporter coalition, welcoming 100+ organizations to support Ethereum's institutional onboarding, and shared that Open Standard's Open USD stablecoin will launch on Ethereum on day one.
18/ @class_lambda and @gattacahq shared that their PropAMM (pAMMs) infrastructure has facilitated over $2B in total volume swapped on Ethereum.
19/ @theInterfold, an open-source protocol for confidential coordination and encrypted execution environments built on Ethereum, launched its Network Alpha production environment.
20/ @arbitrum activated ArbOS Elara, bringing more responsive fees and 4x bigger Stylus smart contracts to Arbitrum One, along with new features for chains built on the Arbitrum stack.
21/ @Uniswap launched v4 Permissioned Pools, a hook standard to enforce allowlists on swaps and liquidity deposits while the protocol itself stays permissionless, bringing regulated assets to AMM trading with launch partners @SuperstateInc, @Securitize, and Dowgo.
22/ @EthCoordinate, a new crypto-native organization building on the EthStaker community's work, was formed to support Ethereum governance coordination, facilitate stakeholder interaction, and accelerate Ethereum adoption.
23/ @MetaMask launched the MetaMask Agent Wallet, an agentic wallet with built-in spending limits, allowlists, and risk profiles.
24/ @ResearchHub, a tool for the open funding, publication, and discussion of scientific research built on Ethereum and @base, launched a new homepage to surface open research proposals and funding requests.
25/ @base opened applications for Base Batches 004, a startup accelerator program for 10 early-stage teams, and also launched Base Verify Onchain, a privacy-preserving identity layer for apps to enforce one-person-one-claim onchain distributions.
26/ @Cloudflare announced Wallets, enabling AI agents to buy APIs and content with stablecoin payments over the x402 payment standard.
27/ The @ethereumfndn launched the better.codes autoresearch challenge to advance post-quantum Ethereum, built with @zksecurityXYZ and @eigenlabs on @yukonresearch, putting a machine-verified security problem on a public leaderboard that anyone can push forward. @Lighter_xyz also launched the Lighter Prover challenge, an autoresearch competition to make Lighter's production exchange faster.
28/ Privacy-focused wallet @staycloakedxyz reached $650k in deposits and $1M in volume in its first 90 days live.
29/ @mtpelerin added support for @ensdomains names as sending and receiving addresses when creating personal IBANs for bank transfers in crypto.
30/ @Blockspace_ETH was announced, a company focused on out-of-protocol infrastructure for Ethereum blockspace.
31/ @0xprivacypools launched onchain payroll support, allowing employers to provide recurring wage payments with privacy for salary amounts and recipient addresses.
32/ Fake World Assets (FWA), a NFT gacha protocol by @token_works, launched the FWAir NFT distribution mechanism with an initial 111 item PFP collection.
33/ Builder @z0r0zzz launched zSwap, a fully onchain decentralized exchange built on Ethereum, with all code, including frontend and application logic, stored on mainnet smart contracts.
34/ MMO game @playcambria surpassed $10M in total game volume in August, and @LootSurvivor and Cambria launched a 72-hour onchain dungeon competition.
35/ @EFDevcon released the official Devcon 8 travel guide for Mumbai ahead of this year's Devcon 8 conference in November.
95·A+Long
n
news9/3news
Ethereum is for shipping.
Here are 35 things the Ethereum ecosystem launched, upgraded, and announced through August.
1/ GnosisDAO approved a vote to transition @gnosischain from its own L1 to a ZK-proven Ethereum L2 rollup with synchronous composability, so apps on Gnosis and Ethereum can interact in a single transaction.
2/ @BlackRock introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL) with a tokenized share class on Ethereum mainnet for managing stablecoin and digital asset reserves, and began tokenizing share classes of its $311B European money market fund series on Ethereum.
3/ @aztecnetwork launched Alpha v5, a protocol upgrade that reduced private transaction proving times and brought the first wave of privacy-preserving apps to the network.
4/ @Uniswap processed $1B+ in stock token volume and $20B+ in total volume on @RobinhoodCrypto's Robinhood Chain since its July launch.
5/ @ethPandaOps introduced the Platåberget testnet, preparing client implementations for Glamsterdam, Ethereum's next network upgrade.
6/ @Morpho crossed $880M in total deposits on Robinhood Chain in its first <2 months live and reached $5.75B in total deposits on @base.
7/ @web3privacy shared the Ethereum Privacy Ecosystem Mapping 2026, an updated map and repository covering Ethereum’s privacy ecosystem.
8/ @Revolut announced the phased rollout of its euro-denominated stablecoin EURR, live on Ethereum for eligible users.
9/ @aave v4 surpassed $525M in deposits on Ethereum.
10/ Coinbase Tokenized Stocks launched on @base for non-U.S. users, held 1:1 by a regulated custodian, owned in self-custody wallets, and usable across DeFi 24/7.
11/ @FreedomFactory opened presales for the PQ1, a fully open-source, air-gapped hardware wallet that signs with post-quantum cryptography through an Ethereum smart account.
12/ @OctantApp launched Epoch 13, its latest funding round, focused on privacy on Ethereum and across the open internet.
13/ @selfxyz and Google Cloud launched the USAT Mainnet Faucet on @Celo, letting anyone verified on Self claim USA₮.
14/ @PrivacyBoost launched the Privacy Boost App, a frontend to send private transfers from your connected wallet.
15/ @Whitechain_io, the distribution-focused network connected to the WhiteBit ecosystem, announced it is evolving from an L1 into an Ethereum L2 built on the OP Stack.
16/ @ether_fi added tokenized stocks, portfolio-backed loans through @aave, and other new features to its crypto neobank.
17/ @ethereuminsti announced its ecosystem funding round and supporter coalition, welcoming 100+ organizations to support Ethereum's institutional onboarding, and shared that Open Standard's Open USD stablecoin will launch on Ethereum on day one.
18/ @class_lambda and @gattacahq shared that their PropAMM (pAMMs) infrastructure has facilitated over $2B in total volume swapped on Ethereum.
19/ @theInterfold, an open-source protocol for confidential coordination and encrypted execution environments built on Ethereum, launched its Network Alpha production environment.
20/ @arbitrum activated ArbOS Elara, bringing more responsive fees and 4x bigger Stylus smart contracts to Arbitrum One, along with new features for chains built on the Arbitrum stack.
21/ @Uniswap launched v4 Permissioned Pools, a hook standard to enforce allowlists on swaps and liquidity deposits while the protocol itself stays permissionless, bringing regulated assets to AMM trading with launch partners @SuperstateInc, @Securitize, and Dowgo.
22/ @EthCoordinate, a new crypto-native organization building on the EthStaker community's work, was formed to support Ethereum governance coordination, facilitate stakeholder interaction, and accelerate Ethereum adoption.
23/ @MetaMask launched the MetaMask Agent Wallet, an agentic wallet with built-in spending limits, allowlists, and risk profiles.
24/ @ResearchHub, a tool for the open funding, publication, and discussion of scientific research built on Ethereum and @base, launched a new homepage to surface open research proposals and funding requests.
25/ @base opened applications for Base Batches 004, a startup accelerator program for 10 early-stage teams, and also launched Base Verify Onchain, a privacy-preserving identity layer for apps to enforce one-person-one-claim onchain distributions.
26/ @Cloudflare announced Wallets, enabling AI agents to buy APIs and content with stablecoin payments over the x402 payment standard.
27/ The @ethereumfndn launched the http://better.codes autoresearch challenge to advance post-quantum Ethereum, built with @zksecurityXYZ and @eigenlabs on @yukonresearch, putting a machine-verified security problem on a public leaderboard that anyone can push forward. @Lighter_xyz also launched the Lighter Prover challenge, an autoresearch competition to make Lighter's production exchange faster.
28/ Privacy-focused wallet @staycloakedxyz reached $650k in deposits and $1M in volume in its first 90 days live.
29/ @mtpelerin added support for @ensdomains names as sending and receiving addresses when creating personal IBANs for bank transfers in crypto.
30/ @Blockspace_ETH was announced, a company focused on out-of-protocol infrastructure for Ethereum blockspace.
31/ @0xprivacypools launched onchain payroll support, allowing employers to provide recurring wage payments with privacy for salary amounts and recipient addresses.
32/ Fake World Assets (FWA), a NFT gacha protocol by @token_works, launched the FWAir NFT distribution mechanism with an initial 111 item PFP collection.
33/ Builder @z0r0zzz launched zSwap, a fully onchain decentralized exchange built on Ethereum, with all code, including frontend and application logic, stored on mainnet smart contracts.
34/ MMO game @playcambria surpassed $10M in total game volume in August, and @LootSurvivor and Cambria launched a 72-hour onchain dungeon competition.
35/ @EFDevcon released the official Devcon 8 travel guide for Mumbai ahead of this year's Devcon 8 conference in November.
80·ALong
n
news9/3news
Ethereum is for shipping.
Here are 35 things the Ethereum ecosystem launched, upgraded, and announced through August.
1/ GnosisDAO approved a vote to transition @gnosischain from its own L1 to a ZK-proven Ethereum L2 rollup with synchronous composability, so apps on Gnosis and Ethereum can interact in a single transaction.
2/ @BlackRock introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL) with a tokenized share class on Ethereum mainnet for managing stablecoin and digital asset reserves, and began tokenizing share classes of its $311B European money market fund series on Ethereum.
3/ @aztecnetwork launched Alpha v5, a protocol upgrade that reduced private transaction proving times and brought the first wave of privacy-preserving apps to the network.
4/ @Uniswap processed $1B+ in stock token volume and $20B+ in total volume on @RobinhoodCrypto's Robinhood Chain since its July launch.
5/ @ethPandaOps introduced the Platåberget testnet, preparing client implementations for Glamsterdam, Ethereum's next network upgrade.
6/ @Morpho crossed $880M in total deposits on Robinhood Chain in its first <2 months live and reached $5.75B in total deposits on @base.
7/ @web3privacy shared the Ethereum Privacy Ecosystem Mapping 2026, an updated map and repository covering Ethereum’s privacy ecosystem.
8/ @Revolut announced the phased rollout of its euro-denominated stablecoin EURR, live on Ethereum for eligible users.
9/ @aave v4 surpassed $525M in deposits on Ethereum.
10/ Coinbase Tokenized Stocks launched on @base for non-U.S. users, held 1:1 by a regulated custodian, owned in self-custody wallets, and usable across DeFi 24/7.
11/ @FreedomFactory opened presales for the PQ1, a fully open-source, air-gapped hardware wallet that signs with post-quantum cryptography through an Ethereum smart account.
12/ @OctantApp launched Epoch 13, its latest funding round, focused on privacy on Ethereum and across the open internet.
13/ @selfxyz and Google Cloud launched the USAT Mainnet Faucet on @Celo, letting anyone verified on Self claim USA₮.
14/ @PrivacyBoost launched the Privacy Boost App, a frontend to send private transfers from your connected wallet.
15/ @Whitechain_io, the distribution-focused network connected to the WhiteBit ecosystem, announced it is evolving from an L1 into an Ethereum L2 built on the OP Stack.
16/ @ether_fi added tokenized stocks, portfolio-backed loans through @aave, and other new features to its crypto neobank.
17/ @ethereuminsti announced its ecosystem funding round and supporter coalition, welcoming 100+ organizations to support Ethereum's institutional onboarding, and shared that Open Standard's Open USD stablecoin will launch on Ethereum on day one.
18/ @class_lambda and @gattacahq shared that their PropAMM (pAMMs) infrastructure has facilitated over $2B in total volume swapped on Ethereum.
19/ @theInterfold, an open-source protocol for confidential coordination and encrypted execution environments built on Ethereum, launched its Network Alpha production environment.
20/ @arbitrum activated ArbOS Elara, bringing more responsive fees and 4x bigger Stylus smart contracts to Arbitrum One, along with new features for chains built on the Arbitrum stack.
21/ @Uniswap launched v4 Permissioned Pools, a hook standard to enforce allowlists on swaps and liquidity deposits while the protocol itself stays permissionless, bringing regulated assets to AMM trading with launch partners @SuperstateInc, @Securitize, and Dowgo.
22/ @EthCoordinate, a new crypto-native organization building on the EthStaker community's work, was formed to support Ethereum governance coordination, facilitate stakeholder interaction, and accelerate Ethereum adoption.
23/ @MetaMask launched the MetaMask Agent Wallet, an agentic wallet with built-in spending limits, allowlists, and risk profiles.
24/ @ResearchHub, a tool for the open funding, publication, and discussion of scientific research built on Ethereum and @base, launched a new homepage to surface open research proposals and funding requests.
25/ @base opened applications for Base Batches 004, a startup accelerator program for 10 early-stage teams, and also launched Base Verify Onchain, a privacy-preserving identity layer for apps to enforce one-person-one-claim onchain distributions.
26/ @Cloudflare announced Wallets, enabling AI agents to buy APIs and content with stablecoin payments over the x402 payment standard.
27/ The @ethereumfndn launched the http://better.codes autoresearch challenge to advance post-quantum Ethereum, built with @zksecurityXYZ and @eigenlabs on @yukonresearch, putting a machine-verified security problem on a public leaderboard that anyone can push forward. @Lighter_xyz also launched the Lighter Prover challenge, an autoresearch competition to make Lighter's production exchange faster.
28/ Privacy-focused wallet @staycloakedxyz reached $650k in deposits and $1M in volume in its first 90 days live.
29/ @mtpelerin added support for @ensdomains names as sending and receiving addresses when creating personal IBANs for bank transfers in crypto.
30/ @Blockspace_ETH was announced, a company focused on out-of-protocol infrastructure for Ethereum blockspace.
31/ @0xprivacypools launched onchain payroll support, allowing employers to provide recurring wage payments with privacy for salary amounts and recipient addresses.
32/ Fake World Assets (FWA), a NFT gacha protocol by @token_works, launched the FWAir NFT distribution mechanism with an initial 111 item PFP collection.
33/ Builder @z0r0zzz launched zSwap, a fully onchain decentralized exchange built on Ethereum, with all code, including frontend and application logic, stored on mainnet smart contracts.
34/ MMO game @playcambria surpassed $10M in total game volume in August, and @LootSurvivor and Cambria launched a 72-hour onchain dungeon competition.
35/ @EFDevcon released the official Devcon 8 travel guide for Mumbai ahead of this year's Devcon 8 conference in November.
85·ALong
m
meme9/3meme
reply Twenty-one major banks, including Goldman Sachs, Bank of America and Citi, plan to launch a dollar stablecoin in early 2027 under the GENIUS Act, challenging Tether and Circle as crypto firms pour record cash into the 2026 midterms. The push collides with firmer Treasury yields, Fed hike risk from U.S.-Iran tensions, and European efforts to build a euro token while the ECB warns that private coins threaten monetary control.
lol
92·A+Neutral
m
meme9/3meme
quote: A consortium of twenty-one banks and asset managers, including Goldman Sachs, Bank of America, Citigroup, Wells Fargo, Deutsche Bank, UBS, Fidelity and WisdomTree, will form a company in the second half of 2026 and issue a dollar-pegged stablecoin in the first half of 2027, then expand to the euro and other G7 currencies.
The group has more than doubled since an October 2025 exploration by ten banks. Sponsors say the token will serve wholesale, institutional and retail uses, from cross-border payments to tokenized-asset settlement, and will be designed to comply with the U.S. GENIUS Act and, where relevant, the EU’s MiCA rules.
Private dollar tokens already dominate on-chain settlement. Tether still leads with more than $180 billion outstanding, recycling reserves into short-term Treasuries. Circle’s USDC is the main regulated rival. A bank coin will not automatically displace them; Société Générale’s earlier dollar token showed how little demand appears without distribution and liquidity.
Markets still treated the plan as a competitive threat. Circle shares fell about six percent as investors priced in the risk that large banks would keep more of the float, distribution and reserve economics on their own rails.
The contest is also a fight over the architecture of money. The GENIUS Act, signed in July 2025, created the first federal regime for payment stablecoins: one-to-one reserves in cash, insured deposits and short-dated government paper, monthly disclosures, anti-money-laundering and sanctions duties, and a finding that such tokens are neither securities nor federally insured deposits.
Core licensing rules phase in around January 2027, which is why the launch window is not arbitrary. A market-structure bill, often called the Clarity Act, faces a Senate test in mid-September. Crypto firms have poured a record $190 million to more than $200 million into the 2026 midterms, becoming the largest corporate political spender, to lock in those rules and preserve banking access. Their 2024 outlays helped produce the stablecoin statute; this cycle is an attempt to finish the federal framework before control of Congress may shift.
Geopolitics pulls the other way. Dollar stablecoins already function as a private extension of reserve-currency status. The Bank for International Settlements has warned that large-scale adoption abroad can amount to digital dollarization, weakening local policy transmission.
ECB President Christine Lagarde has argued that privately issued stablecoins, even in euros, pose risks to monetary policy and financial stability. Isabel Schnabel has called them complements, not substitutes, for central-bank money and urged official settlement to move on-chain.
That is why Qivalis, a thirty-seven-bank European consortium, is racing to launch a euro token later in 2026 under Dutch supervision. Some lenders, including BBVA, sit in both groups. The result is a contest among dollar rails, euro rails and official experiments in tokenized deposits.
The political overlay is American. President Trump’s support revived institutional interest after the 2024 crypto rebound, and his family’s World Liberty Financial has issued its own token. That proximity has complicated talks on rewards, illicit finance and self-dealing. November’s midterms will decide whether the current statutory path is completed or reopened.
Banks are positioning for regulated digital dollars as ordinary plumbing. Crypto-native firms are spending to keep that plumbing from being written only in bank language. Central banks elsewhere are trying to keep the settlement layer public. The 2027 coin is less a product launch than a bet that the dollar, U.S. law and large-balance-sheet distribution will still define the next generation of digital money even as geopolitics, inflation and elections keep rewriting the terms. | From stablecoins being the center of attention to crypto companies ploughing money into the US midterms, Francis Maguire rounds up the crypto stories of the week https://reut.rs/4iqHOP9
95·A+Neutral
n
news9/3news
A consortium of twenty-one banks and asset managers, including Goldman Sachs, Bank of America, Citigroup, Wells Fargo, Deutsche Bank, UBS, Fidelity and WisdomTree, will form a company in the second half of 2026 and issue a dollar-pegged stablecoin in the first half of 2027, then expand to the euro and other G7 currencies.
The group has more than doubled since an October 2025 exploration by ten banks. Sponsors say the token will serve wholesale, institutional and retail uses, from cross-border payments to tokenized-asset settlement, and will be designed to comply with the U.S. GENIUS Act and, where relevant, the EU’s MiCA rules.
Private dollar tokens already dominate on-chain settlement. Tether still leads with more than $180 billion outstanding, recycling reserves into short-term Treasuries. Circle’s USDC is the main regulated rival. A bank coin will not automatically displace them; Société Générale’s earlier dollar token showed how little demand appears without distribution and liquidity.
Markets still treated the plan as a competitive threat. Circle shares fell about six percent as investors priced in the risk that large banks would keep more of the float, distribution and reserve economics on their own rails.
The contest is also a fight over the architecture of money. The GENIUS Act, signed in July 2025, created the first federal regime for payment stablecoins: one-to-one reserves in cash, insured deposits and short-dated government paper, monthly disclosures, anti-money-laundering and sanctions duties, and a finding that such tokens are neither securities nor federally insured deposits.
Core licensing rules phase in around January 2027, which is why the launch window is not arbitrary. A market-structure bill, often called the Clarity Act, faces a Senate test in mid-September. Crypto firms have poured a record $190 million to more than $200 million into the 2026 midterms, becoming the largest corporate political spender, to lock in those rules and preserve banking access. Their 2024 outlays helped produce the stablecoin statute; this cycle is an attempt to finish the federal framework before control of Congress may shift.
Geopolitics pulls the other way. Dollar stablecoins already function as a private extension of reserve-currency status. The Bank for International Settlements has warned that large-scale adoption abroad can amount to digital dollarization, weakening local policy transmission.
ECB President Christine Lagarde has argued that privately issued stablecoins, even in euros, pose risks to monetary policy and financial stability. Isabel Schnabel has called them complements, not substitutes, for central-bank money and urged official settlement to move on-chain.
That is why Qivalis, a thirty-seven-bank European consortium, is racing to launch a euro token later in 2026 under Dutch supervision. Some lenders, including BBVA, sit in both groups. The result is a contest among dollar rails, euro rails and official experiments in tokenized deposits.
The political overlay is American. President Trump’s support revived institutional interest after the 2024 crypto rebound, and his family’s World Liberty Financial has issued its own token. That proximity has complicated talks on rewards, illicit finance and self-dealing. November’s midterms will decide whether the current statutory path is completed or reopened.
Banks are positioning for regulated digital dollars as ordinary plumbing. Crypto-native firms are spending to keep that plumbing from being written only in bank language. Central banks elsewhere are trying to keep the settlement layer public. The 2027 coin is less a product launch than a bet that the dollar, U.S. law and large-balance-sheet distribution will still define the next generation of digital money even as geopolitics, inflation and elections keep rewriting the terms.
95·A+Neutral
m
meme9/2meme
@0xPolygon & @Agglayer
➡️ @Revolut launched its EURR euro stablecoin on Polygon.
➡️ Polygon joined the @bankofengland Digital Pound Lab for cross-border trade finance.
➡️ @okx launched deposit bonuses and up to 12% APY for POL.
➡️ Lawson completed Japan's first POS stablecoin payment using JPYC settled on Polygon.
➡️ @CharmFinance's stablecoin vault reported a 17% net 30-day yield from DEX trading fees without token incentives.
https://l2beat.com/ecosystems/agglayer